Dhir & Dhir Associates advised IDFC Limited on India’s first India’s first ‘credit enhanced’ infrastructure bonds were issued by Renew Wind Energy (Jath) Private Limited for INR 4,510.00 Million, the said bonds were partially guaranteed by India Infrastructure Finance Company Limited (IIFCL) and counter-guaranteed by the Asian Development Bank (ADB).

Through credit enhancement, the subscribers are provided with reassurance that the issuer company will honour the obligation through additional collateral, insurance, or a third party guarantee. IDFC Limited is the sole arranger and underwriter to these bonds.

Girish Rawat, Partner led the Firm’s banking & capital market team on the above transaction. The other team members included Guranpreet Singh Sarna, Senior Associate and Surbhi Narang, Associate. They advised IDFC Limited on various transaction related issues from time to time and have vetted the debenture trust deed, and other related documentation.